September: 11 of 12 Up, Then 7 of 8 Down

The stock market is down again on fears of a government shutdown which looks very likely. Today is the final day of the third quarter which is also the end of Uncle Sam’s fiscal year. Folks across town can’t seem to reach an agreement, so for the first time in 17 years, the federal government will partially close down.

The Senate gets together at 2 pm this afternoon. They’re probably going to pass a bill to keep the government going through December 15th, but they won’t include any of the House language about delaying Obamacare. Then it’s up to the House. I’m not a political guy so I have no idea what will happen, but I know that markets don’t like this at all.

The S&P 500 is currently down about nine points which is a little over 0.50%. Here’s a very brief history of the S&P 500 during the month of September: first it rose eleven of twelve days, then it fell seven out of eight days.

This morning, energy stocks are down the most while materials and healthcare stocks are down the least. While most of our Buy List is down today, there are a few pockets of strength. Medtronic (MDT), Moog (MOG-A) and Ross Stores (ROST) are currently showing green.

Posted by on September 30th, 2013 at 10:48 am

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